is there much of a float left for Hedge funds to drive the SP higher ?

That's the $64,000 question.....if there is a hedge fund looking to establish a position of say, 500K shares, heck even just 100K. Are there shares available for sale? Obviously if there are big player buyers who see $1.70 (or thereabouts) as a great price to buy in at, they need sellers willing to sell around that price.